Thor Mining has completed a Memorandum of Understanding with China"s Hunan Nonferrous Metals Holdings Group in regards to its flagship Molyhil project.

Thor is a specialist metals company focused on advancing tungsten-molybdenum and uranium projects in the Northern Territory of Australia.

The Memorandum of Understanding allows Hunan Nonferrous Metals to complete due diligence by 15 April 2007 with best endeavours to conclude commercial finance terms and suitable off-take agreements by the end of April.